Is the United States heading for another absolutely devastating housing crash? It has been 10 years since the last one, and so many of the exact same signs that immediately preceded the last one are starting to appear once again.
Back in 2007, home prices were absolutely soaring and it seemed like the party would never end. But interest rates went up, home sales slowed down substantially, and eventually prices began to crash.
Millions upon millions of Americans were suddenly “underwater” in their homes just as a crippling recession hit the economy, and we plunged into a foreclosure crisis unlike anything that we had ever seen before. Well, now the cycle is happening again.